Message from the President & CEO

We aim to become a leading energy company serving an essential role in global society by meeting the energy needs of Japan and countries around the world.

INPEX strives for the expansion of energy supply in a sustainable way to ensure stable energy supply for sustainable economic and social development and for the achievement of the United Nations Sustainable Development Goals (SDGs).

In May 2018, we formulated Vision 2040 based on our mission of contributing to the creation of a brighter future for society through our efforts to develop, produce and deliver energy in a sustainable way. Vision 2040 sets out three business targets: sustainable growth of the oil and natural gas E&P activities, development of the global gas value chain and reinforcement of renewable energy initiatives.

Among the main sources of energy supply, there are high expectations for natural gas, and demand for liquefied natural gas (LNG) is expected to increase particularly in Asia.

INPEX-operated Ichthys LNG Project in Australia, commenced shipment of LNG since October 2018.The project is scheduled to gradually increase production volume of LNG and produce approximately 8.9 million tons of LNG per year when it reaches production plateau.

The Ichthys LNG Project is a large-scale LNG project expected to be operational over a period of 40 years.We aim to make a substantial contribution to a stable energy supply in Asia as well as other areas around the world through the project.

While it is expected to meet global energy demand, which will continue to grow, topics including initiatives for climate change and transition to low- carbon society also become global big trends.

The Paris Agreement adopted in 2015 encourages each country to set greenhouse gas reduction targets. It requires proactive measures by the entire international community to take proactive measures toward the reduction of greenhouse gas emissions and the establishment of a low-carbon future, including an agreement to keep the average global temperature increase to well below 2℃ above pre-industrial levels and efforts to limit temperature increase to 1.5℃ as a long-term global shared goal.

As outlined in Vision 2040, we will enhance our governance system and implement initiatives in areas such as business strategy, assessment of risks and opportunities of climate change, and greenhouse gas emissions management, aiming to proactively contribute to a lower-carbon energy society based on the long-term targets of the Paris Agreement. We will also continue enhancing our reporting in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

We will continue to strengthen our ESG (Environment, Society and Governance) initiatives throughout the supply chain, and contribute to the achievement of SDGs through our business, and to maintain respectful communications and build trust with all stakeholders. With responsible management, we aim to become “a leading energy company serving an essential role in global society” by meeting the energy needs of Japan and countries around the world as outlined in Vision 2040.

Representative Director, President & CEO

Takayuki Ueda

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